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Alpinum Investment Management’s Blog offers an opportunity to share some of the knowledge we gathered over the years blended with current markets trends and activities.

All insights are written by the portfolio management team. Due to our expertise, we are also often contacted by media-creatives for statements, which we are pleased to make them available to you.

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Swiss Know-How in Alternative Investments | Sphere Magazin

Blog, Media /

Following the Sphere Breakfast Series «Swiss Know-How in Alternative Investments» on April 4, 2023, in Geneva, Alpinum IM Alternative Investment expert Oliver Rossi, Senior Portfolio Manager, explains in an interview with the Sphere Magazine, why many hedge fund strategies outperformed classic mandates in 2022 and how the concept of «Absolute Return» helps Alpinum IM to […]

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Concrete stairs credit investment

Credit yields trump earnings yield on equities

Alternative Credit Letter, Blog /

Yields on leveraged loans are currently reaching 10% and remain materially higher than yields on equities. Since 2022 the loan investors have been benefiting from rising rates, which translated into increasing income via quarterly benchmark rate resets. With any new loan refinancings, investors are now also benefiting from increased credit spreads, as lenders incorporate higher

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Absolute Return | Asset Manager Magazin

Blog, Media /

In the latest edition of the «Asset Manager Magazin», Reto Ineichen, CIO of Alpinum Investment Management, illustrates how their absolute return-oriented fund products manage to mitigate losses during periods of market stress, while still achieving attractive risk-adjusted returns in the long-term. The interview is available in English, German and French. Reto Ineichen: «We are constantly

Absolute Return | Asset Manager Magazin Read More »

Q2 Quarterly Reports Investment Management

Q2 2023-Quarterly Investment Letter

Blog, Quarterly Investment Letter /

The economic environment presents challenges for investors as market expectations diverge from reality. Despite positive signs in Europe and China, stubborn inflation, deteriorating quarterly dynamics in the US and stagnant eurozone growth add to the complexity. The US economy shows mixed indicators, with a decline in the housing market, but robust labor data and a

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Concrete stairs credit investment

Credit yields exceed earnings yield on equities

Alternative Credit Letter, Blog /

Credit yields are now significantly higher than earnings yields on equities. HY bonds are currently yielding 8.5% and loans 10.4%. Meanwhile, earnings yield on equities ranges from 5.1% current to 7.5% when adjusted for the long term inflation expectations published by the FED. Most of the increase in credit yields is attributable to rising rates.

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China Credit Spreads

Emerging Markets Credit Spreads Tightening

Blog, Newsflash /

Credit spreads on emerging market debt have tightened significantly since late last year. While slowing-down inflation in the US has supported the overall EM sentiment, one of the key internal drivers of the EM rally was China’s economy reopening. The removal of COVID-19 restrictions has released pent-up demand in the world’s second largest economy. Excluding

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Hedge funds are a substantial fraction of the asset management industry

Hedge Funds Review & Outlook 01/2023

Blog, Hedge Funds Insight /

The year of 2022 was characterised by a turbulent market environment. In our working paper “Investment Insight – Hedge Funds”, we shed light on 2022 from a hedge fund perspective, explaining in- and outflows into the industry, highlighting the importance of diversification and active management and digging deeper into hedge fund specific market observations. Finally,

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